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But the results also suggest that cash may be losing its appeal among younger consumers: 77% of respondents 50 or older say they use cash for small purchases, but anyone younger than that is basically split in their preference for cash or plastic.

Millennials, meanwhile, were the only demo in which the majority preferred plastic: 51% said they’d pay for an item that cost less than $5 with a debit card. That’s compared with the whopping 82% of Boomers who said they were all about the Benjamins (or the Georges, as the case may be).

So what’s driving the shift away from dollars and cents? For one thing, new technology at points of purchase makes it just as easy to pay with plastic. And many people prefer paying with a debit card so they can check their account balances and bank statements online. Consumers who use credit cards might also be driven by the possibility of earning reward points.

As for whether it’s more sensible to use paper or plastic, it really depends on your personality. In some cases, going all cash helps people curb their spending habits; in other situations, using a debit or credit card allows consumers to do a better job of tracking their expenses. Do some experimenting and see which spending style works best for you.

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LearnVest Planning Services is a registered investment adviser and subsidiary of LearnVest, Inc. that provides financial plans for its clients. Information shown is for illustrative purposes only and is not intended as investment advice. Please consult a financial adviser for advice specific to your financial situation. LearnVest Planning Services and any third-parties listed, discussed, identified or otherwise appearing herein are separate and unaffiliated and are not responsible for each other’s products, services or policies. LearnVest, Inc. is wholly owned by NM Planning, LLC, a subsidiary of The Northwestern Mutual Life Insurance Company.